Interra Resources: Yenangyaung Development Well CHK 3243 Completed As An Oil Producer.

11 Apr 2012 11:38

Interra Resources Limited wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc., has completed infill development well YNG 3243 in the Yenangyaung oil field in Myanmar as an oil producer. Interra has a 60% interest in the Improved Petroleum Recovery Contract of the Yenangyaung field and also owns 60% of Goldpetrol which is the operator of the field. YNG 3243 was drilled using Goldpetrol's Cooper LTO 350 rig and as such, costs were comparatively low. Interra's share of the drilling costs was funded from current cash assets...